Related provisions for CONC 2.5A.11
1 - 1 of 1 items.
1This section applies to a firm which owns or operates a website that displays any terms on which high-cost short-term credit products are available from different lenders (referred to in this section as a “price comparison website”) and in relation to which it:(1) holds itself out as providing a price comparison service or a price service; or(2) describes itself in any way as a price comparison website or a price website; or(3) gives the impression in any way that the website
Where a firm lists information on the website it owns or operates concerning high-cost short-term credit products in order to enable a customer to compare any terms of those products, it must display the information in a way that neither the ranking of products nor the prominence of display of products is based (wholly or partly) on the firm’s commercial interests or its commercial relationship with any person.
A firm must ensure that the price comparison website enables: (1) a customer to enter the value and duration of the customer’s desired loan when specifying the criteria for a search; and (2) a search to be made of the high-cost short-term credit products covered by the website and the results of the search to be displayed on the basis of only that information.
In response to a request to perform a search for a high-cost-short-term credit product, the firm must ensure that the price comparison website:(1) displays specific information relating to each loan covered by the website which corresponds to the search criteria entered by the customer as a separate result; (2) ranks those results in order of total amount payable in accordance with CONC 3.5.5R(2), with the loan with the lowest total amount payable first and the highest last; and